China Hydroelectric Corporation plans to sell American depository shares in an initial public offering, with the intent to use proceeds to acquire hydroelectric assets in China.
The company plans to offer 3.13 million American depository shares at US$15 to $17 a share for trading on the New York Stock Exchange under the symbol CHC, market news outlets reported.
China Hydroelectric Corporation is a consolidator, operator and developer of hydro projects in China. The company owns 11 hydroelectric plants plus a controlling interest in one plant.
China Hydroelectric plans to raise net proceeds of more than $35 million from the IPO, after deducting expenses.
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